Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week.
The yen is the big mover in the early hours with the win for Takaichi in the leadership election on Saturday:
- Sanae Takaichi wins runoff vote in LDP leadership race
- Japan's Takaichi says to carefully consider if current govt-BOJ accord is most appropriate
USD/JPY is around 149.50 (please read the caution I post each and every week re "market liquidity is very thin ... prices are liable to swing around".
We've been flagging for weeks now, as have others in the market, the likelihood of a weaker yen if Takaichi was to take the prize. And here we are.
Indicative rates:
- EUR/USD 1.1727
- USD/JPY 149.49
- GBP/USD 1.3438
- USD/CHF 0.7963
- USD/CAD 1.3955
- AUD/USD 0.6586
- NZD/USD 0.5816
